Well, there are two main drivers in today’s Ripple news update.
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1. G20 leaders say cryptos don’t threaten financial stability. This is by far the most important reason for surging XRP prices. Mark Carney, governor of the Bank of England and director of the Financial Stability Board (FSB)—an international meeting group for central bankers—released a letter on Sunday saying that “crypto-assets do not pose risks to global financial stability at this time.” Markets went ballistic after as a result. Carney is the de facto leader of central bankers, a spokesman for the G20’s financial elite. He was speaking on their behalf to the rest of the G20 audience, meaning that regulatory efforts might begin to calm down in the following weeks. (Source: “To G20 Finance Ministers and Central Bank Governors,” Financial Stability Board, March 13, 2018.)
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2. David Schwartz shoots down XRP criticisms. For those who are unfamiliar with David Schwartz, he is Ripple’s chief cryptographer and occasional spokesman. Once in awhile, he pops up from behind his coding screens to address some of XRP’s strongest critics. This was no exception. Schwartz took to Quora to answer a question about instant XRP transactions. You should read his answer in full. Needless to say, it was the kind of education that is crucial to XRP’s long-term success. (Source: “If XRP/RIPPLE needs to be cashed out by a bank after a cross-border transaction, then how does instant XRP transaction help if it can take up to a week to turn back into USD through your bank?,” Quora, March 16, 2018.)
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@HikoCrypto
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